News Global Dairy Trade
Dairy prices on Global Dairy Trade show bottom
Dairy prices on the Global Dairy Trade (GDT) show a bottom in many cases during the first auction in December. Only butter and lactose have yet to take a reduction.
Read this article?
Become a subscriber and get instant access
Choose the subscription that suits you
Just like during the last auction in mid-November, the Global Dairy Trade shows signs of market recovery, or at least bottom formation. The average price rose by 0,6% to $3.610 per tonne. This is a result of higher prices for cheddar and milk powders.
Butter down
The butter price will fall further, by 1,9% to $4.725 per tonne. This is also likely to put pressure on European butter prices. The traded volume remains stagnant, just under 30.000 tons. This is in line with previous auctions.
During the previous auction in mid-November, milk powder prices also rose, but this did not lead to a floor under the market in Europe. Now the European milk powder market is once again receiving an incentive for a bottom. Whether this will actually work out remains to be seen in the coming days.